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Statistics: Trade Volume Increased in Latest Half
China's trade volume in July rose 31.2 per cent year-on-year to US$41 billion, according to statistics released Wednesday by the General Administration of Customs.
Exports slowed in the first six months to 24.1 per cent in July, the statistics showed. China had an average monthly increase rate of more than 30 per cent in the period between January and June.
But experts still consider July's numbers high, the second highest of this year at US$21.5 billion. China's exports were valued at US$22.2 billion in June.
The comparatively low increase was made on the high base of last July, when China's exports began to prosper, experts said.
The growth in exports, however, is expected to drop in the remainder of the year due to a high comparative basis.
Price surges on the global market increased China's dependency on foreign oil. Oil imports rose 170 per cent from the same period last year to US$9.4 billion in the first seven months.
Equipment and products import related to foreign direct investment also rose 12 per cent to US$6.99 billion in the first seven months.
China's expected entry to the World Trade Organization and booming domestic economy have enhanced foreign investors' confidence, experts said.
Trade volume in the first seven months of the year rose 36.5 per cent to US$257.5 billion, including US$136 billion in exports and US$121.5 billion in imports.
China achieved a trade surplus of US$14.4 billion in the period ending in July, with US$2 billion in July alone. (Chinadaily)
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